Newspaper article from our research archive:
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Ceragon files for secondary offering: The wireless backhaul solutions company plans to sell six million shares.
- Article from:
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Globes (Tel Aviv, Israel)
- Article date:
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October 2, 2007
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Copyright informationCOPYRIGHT 2007 Globes. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Shiri Habib
Oct. 2--Wireless backhaul solutions provider Ceragon Networks Ltd. (Nasdaq: CRNT; TASE:CRNT) has filed a registration statement with the US Securities and Exchange Commission for a proposed secondary offering of six million shares. The share fell 4.5 percent at the opening on Wall Street but rose 3.5 percent on the TASE. At the current share price, the company can expect to raise about $119 million.
Ceragon has risen 370 percent since January to about $20 per share, giving a market cap of $565 million. The surge in the share led management to decide to go ahead with the offering, as "Globes" earlier reported.
Banc of America Securities LLC and ...
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